China Leads the Way Developing Global Trade

China Leads the Way Developing Global Trade

Officials from around the world have been speaking highly of Chinese President Xi Jinping’s keynote speech delivered Sunday at the Shanghai Cooperation Organization (SCO) summit in the eastern Chinese seaside city of Qingdao.

In the speech, Xi called on countries involved in the regional bloc to work closely to build an SCO community with a shared future, move toward a new type of international relations, and build an open, inclusive, clean and beautiful world that enjoys lasting peace, universal security and common prosperity.

Asanga Abeyagoonasekera, director general of the Institute of National Security Studies Sri Lanka, said Xi’s call for moving toward a new type of international relations “captured the zeitgeist of the unfolding modern world order.”

“Asian nations, including Sri Lanka, should fully support this effort to create a more stable and better world order,” the scholar said.

Qingdao photo
Photo by kenner116

Zivadin Jovanovic, an international relations expert based in Belgrade, Serbia, said Xi presented “positive, visionary views on how to approach global economic, social and security challenges.”

“Xi showed the world the SCO’s role in global governance and cleared the way in order to reinforce peace, win-win cooperation in a multipolar world without geopolitical constraints and the relics of isolationism,” he said.

Jovanovic is the founder of the Belgrade Forum for a World of Equals and the Silk Road Connectivity Research Center, two think tanks.

Maria Guleva, an associate professor in history who chairs the study of social development theories of Asian and African nations at Russia’s St. Petersburg State University, said China seeks to undertake serious international obligations that consolidate its status of a major country in the world.

“This is evident in a number of Xi’s statements, which include the need to fill the gap of development levels among countries, and the announcement by Xi of (China’s) contribution to the SCO Interbank Consortium,” Guleva said.

Xi announced in his keynote speech that China will set up a 30-billion-yuan (4.7-billion-U.S.-dollar) equivalent special lending facility within the framework of the SCO Interbank Consortium.

china photochina photo

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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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